Alaska Communications enters into $115 million term loan interest rate swap

By Sara Rosenberg

New York, Feb. 9 - Alaska Communications Systems Group Inc. executed a $115 million notional amount floating-to-fixed interest rate swap agreement related to its term loan, according to a company news release.

The swap effectively fixes the rate on $115 million principal amount of senior secured bank debt at 4.96% through December 2011.

The company had previously entered into interest rate swaps for a notional amount of $260 million, and this transaction fixes the rates on its entire $375 million term loan.

Alaska Communications is an Anchorage, Alaska-based integrated communications provider.

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